Hartley Pensions

Is It Possible to Claim Compensation Against Hartley Pensions Limited?

Yes, it is possible to claim compensation if you were mis-sold a pension. Here are some signs that might indicate you were misled:

• Promised returns never materialised.
• Risks of transferring to Hartley Pensions weren’t disclosed.
• Contacted by cold-callers or directly by Hartley Pensions.
• Experienced significant financial losses after investing in a Hartley Pensions.

Mis-selling pensions is illegal. If any of these apply to you, contact us today to start your claim for compensation.

What Occurred with Hartley Pensions Limited?

The Financial Services Compensation Scheme (FSCS) has launched an investigation into claims against Hartley Pensions Limited. The company faced severe restrictions from the Financial Conduct Authority (FCA):

• In February 2022, the FCA froze their assets, preventing movement without permission.
• By March 2022, they were barred from taking on new clients or business unless authorised.

Hartley Pensions even requested the FCA impose requirements on them, effectively asking to be locked out of business. As of August 2022, they can’t accept new contributions or transfers and can’t switch pensions to other providers.

What Will Happen to the Pensions Managed by Hartley Pensions Limited?

Hartley was managing portfolios from failing firms like Guinness Mahon Trust Corporation and Lifetime SIPP Company. Even though restrictions:

• Existing withdrawals continue as usual.
• All scheduled pension payments remain unaffected.

But, it’s crucial to consider if you’ve been mis-sold. At Thom Tax , we offer no-win, no-fee legal support to ensure you get justice and compensation for being misadvised about your pension investments.

Contact our specialist team now to discuss your Hartley Pensions mis-selling claim.

Claims for Group Actions on Pension Mis-Selling

Feeling misled by Hartley Pensions? You’re not alone. Many investors have found themselves in a similar boat, facing unexpected losses and broken promises. If your pension didn’t deliver as expected, it might be time to consider joining a group action claim.

Why Group Actions Matter

Group actions aren’t just about strength in numbers—they’re also about making your voice heard. When you join forces with others who’ve been mis-sold pensions, you amplify the impact of your claim. This collective approach can streamline the legal process and potentially increase your chances of receiving compensation.

Steps to Take

1. Gather Evidence: Compile all documents related to your SIPP—contracts, statements, emails.
2. Seek Legal Advice: Consult with a solicitor experienced in financial mis-selling claims.
3. Join a Group Action: Look for existing group actions or start one if none exist.

Benefits of Joining a Group Action

• Shared Costs: Splitting legal fees makes it more affordable.
• Collective Power: A united front can push for better outcomes.
• Streamlined Process: Coordinated efforts simplify the complex legal world.

Real Stories, Real Impact

Imagine turning the tables on those who wronged you. People like Sarah from Manchester joined a group action and finally saw justice after years of uncertainty. Her story isn’t unique; many have reclaimed their peace of mind through these collective claims.

Next Steps

If you’re considering this route, don’t wait too long—the sooner you act, the stronger your case could be. Reach out to experts who specialise in pension mis-selling claims and explore how joining a group action could benefit you.

In short, don’t let mis-sold pensions define your financial future. Take control, join forces with others, and fight for what’s rightfully yours.

Recent Developments in Hartley Pensions News

The FCA shared an update on 29th July about Hartley Pension clients. You’ll get a letter outlining your next steps, including possible compensation through the Financial Services Compensation Scheme (FSCS). The Ombudsman and FSCS are working with the FCA and joint administrators to figure out the best course of action.

Sarah Spruce, Head of Professional Negligence at TLW, mentioned that protected claims exist for all Hartley SIPP members due to be charged the Exit and Administration Charge. But don’t worry—there’s nothing you need to do right now. FSCS is sorting out payment arrangements and will keep you posted.

By 1st December 2023, the Joint Administrators plan to seek court approval to charge SIPP clients this fee. Unfortunately, FSCS can’t cover this charge since it doesn’t count as a protected claim under their rules.

Keep an eye on updates from FSCS and stay informed about any new developments about your pension investments.

Key Takeaways

• Hartley Pensions Mis-Selling Allegations: The Financial Conduct Authority (FCA) has highlighted serious issues within Hartley Pensions, leading many investors to believe they were mis-sold their pensions.
• Signs of Pension Mis-Selling: Indicators include promised returns that never materialised, undisclosed risks, cold-calling tactics, and significant financial losses.
• Legal Actions & Compensation: Affected individuals can seek compensation through legal claims. Thom Tax offers no-win, no-fee support for those misadvised about their pension investments.
• Group Action Benefits: Joining a group action claim can amplify the impact of your case, share costs, and streamline the legal process for better outcomes.
• Recent Developments: The FCA and Financial Services Compensation Scheme (FSCS) are working together to resolve ongoing issues with Hartley Pensions. Clients will be informed about next steps and potential compensation.

Hartley Pensions Investment Claims

Exploring the complexities of Hartley Pensions misselling claims can be daunting but understanding your rights and options is crucial. With recent updates from the FCA and ongoing efforts by the FSCS, there’s hope for affected investors seeking compensation. It’s essential to stay informed about these developments and consider group actions, which offer notable advantages.

Engaging with expert legal advisors like Thom Tax or Silverstone Law can significantly bolster your claim. They can guide you through the process ensuring that you maximise your chances of receiving rightful compensation. Don’t delay in taking action; promptness is key to securing a favourable outcome.

By keeping an eye on FSCS updates and collaborating with experienced professionals, you’ll be better positioned to reclaim what you’re owed and safeguard your financial future.

Category	Details
Company Name	Hartley Pensions
Regulatory Authority	Financial Conduct Authority (FCA)
Administration Date	July 29, 2022
Administrators	UHY Hacker Young LLP (Peter Kubik and Brian Johnson)
Number of Affected Clients	Approximately 17,000
Total Assets Trapped	£1.3 billion
Key Issues	– Serious operational and regulatory issues
	– High number of complaints and regulatory breaches
	– Acquired books of distressed SIPPs without sufficient oversight
Regulatory Actions	– FCA stopped Hartley from accepting new business in March 2022
	– Declared in default by FSCS on February 21, 2024
Financial Impact	– £37 million in administration and legal fees proposed to be recouped from clients’ pensions
Compensation Efforts	– FSCS agreed to cover exit and administration charges
Client Transfers	– Transfers to new operators like Morgan Lloyd expected to start in 2024
Court Proceedings	– High Court hearings regarding missing funds and administration fees
Criticism	– FCA criticized for delayed intervention and oversight
Client Complaints	– Complaints upheld by Financial Ombudsman Service (FOS)
Future Steps	– Administrators to issue asset statements and transfer plans

Summary of Events

1. March 2022: FCA stops Hartley from accepting new business due to regulatory issues.
2. July 2022: Hartley Pensions enters administration.
3. February 2024: FSCS declares Hartley in default and agrees to cover exit and administration charges.
4. Ongoing: High Court hearings and client transfers to new operators like Morgan Lloyd.